Less than a minute read. Written by the I Kid You Not Team
Jeff Bezos is the founder of Amazon.com and ranked as the world’s richest man. He arrived in India on Tuesday to attend a two-day summit Delhi starting January 15. The event, called “Smbhav”, is for micro, small and medium enterprises – called MSMEs (who are important for Amazon, as they sell on the platform). Many senior industry executives, like N.R. Narayana Murthy, Co-Founder Infosys will also be present there. During his visit, Jeff Bezos is also expected to meet some high government officials as well as PM Narendra Modi.
Trouble for the world’s richest man
This is not going to be an easy trip for Jeff Bezos. First, the Competition Commission of India (CCI), announced that it was ordering an investigation on some complaints that Amazon (and also Flipkart) are promoting some preferred sellers, which is hurting business for other, smaller sellers. CCI is a a government body that ensures that business don’t follow unfair practices that would have a negative effect on other competing businesses.
Also, a trade union (which is an association of workers that have a lot of influence) that represents 70 million small retails (mostly shopkeepers) has planned protests in 300 cities across India against Amazon.